Jettison means to push to the side or toss away. It is an act of throwing a part of the goods or anything from the ship with-a view to light Jobber. If a boat is leaking or an airplane is running out of fuel, you can buy more time by jettisoning cargo or throwing it overboard. He is a dealer on the stock exchange. He deals with the other jobbers on the stock exchange and buys and sells securities on his own account.
The definition of jettison is to cast something aside, abandon it, or throw it away. It simply means to get rid of something or someone that is not wanted or needed. This term used to cast (goods) overboard in order to lighten a vessel or aircraft or to improve its stability in an emergency. That means, a throwing overboard of goods to lighten a ship, airplane, etc. in an emergency.
Jettison is not recoverable unless the cargo is shipped on deck according to custom, as is usual in the timber trade. It refers to throwing property overboard to lighten a vessel in times of potential danger that threatens the safety of the vessel or crew members. In other circumstances, it is necessary to specifically insure the risks of jettison and washing overboard, as, normally, the only restricted cover is granted.
In Insurance –
The marine insurance peril “Jettison” means and refers the act of throwing off the part of the cargo or gear of the vessel overboard in order to lighten the load and improve stability and save the vessel. It is the intentional throwing overboard of part of the cargo or some piece of the ship in order to save the ship or its cargo. The owners of the jettisoned goods are entitled to a “general average” i.e the loss is shared by the owners of the vessel and the owners of the cargo which was not thrown away. Virtually all ocean marine policies cover the peril of jettison. Such a sacrifice will normally be recoverable in general average, but it must be understood that there is a direct claim on Underwriters as a loss by an insured peril. In general, when cargo is sacrificed in saving a common adventure, it will probably be allowed in general average and will be considered as a general average sacrifice with the loss being shared by ship owners and cargo owners. It must be noticed that a claim for meat jettisoned was rejected because it became putrid during a delayed voyage.